The parties are formulating approaches for several projects, which include but are not limited to, the development of both next generation sequencing and quantitative PCR assays for oncological and infectious diseases. Vela will seek regulatory approval around the world for the resulting assays.

"Partnering with Jefferson provides VelaDx access to world-renowned experts in the molecular diagnostics industry. This is essential for the development of high quality molecular diagnostic assays in a dynamic clinical environment." said Mr Michael Tillmann, Vela's CEO.

"We are enthusiastic that this collaboration will develop highly innovative diagnostic studies that provide optimal sensitivity and work flow for clinical testing. This field is at an inflection point and I anticipate that VelaDx will be among the leaders in unleashing the diagnostic power of next generation sequencing," said Mr Stephen Peiper, Peter A Herbut professor and chair, Department of Pathology, Anatomy and Cell Biology, Thomas Jefferson University, US.